Chinese Insurtech Huize to Acquire Vietnam-based Global Care

Huize, a digital insurance product and services platform from China, has announced the acquisition of Vietnam’s insurtech company Global Care for an undisclosed sum. The move represents the first step in Huize’s ASEAN expansion through its new international brand, Poni Insurtech.

Established in 2017, Global Care specialises in digital transformation solutions for the insurance sector.
Its cloud-based application programming solutions and mobile apps are used by clients to offer an array of embedded and customised insurance products. Global Care connects insurance companies with merchants and distribution channels, including e-commerce platforms such as Grab and Ahamove. In 2023, Global Care’s platform is said to have facilitated the issuance of 13.5 million policies, with revenues more than quadrupling from the previous year.